Good Thursday morning. We have a portfolio move to make.

VRA Alert: With energy stocks (and oil prices) hitting extreme overbought levels on the VRA System we are taking profits this morning.

At the open, enter a market order to sell ERX (2 x energy ETF). Our gains will only be in the 15% range however we’ve only owned ERX since December 18th (annualized this would represent profits of 180%). Last trade: $64.50 (cost basis: $56).

As we covered in our ETF Portfolio review yesterday afternoon we will be more active in trading ETF’s this year, adhering to VRA System trading rules.

Market Update

Yesterday’s mini-melt-up featured textbook bull market action. Coming off of “extreme fear” sentiment readings, combined with a heavily oversold market, the stage was perfectly set for the front-running of Trump 2.0 to pick up speed (now just 4 days away). The internals were garlic strong with NYSE up-volume of 82.3% along and with an advance/decline of more than 5:1. Importantly, th...